India's Swiggy posts bigger-than-expected quarterly loss
Today 11:24
India's Swiggy posts bigger-than-expected quarterly loss Oct 22 (Reuters) - India's Swiggy SWIG.NS posted a bigger-than-expected quarterly loss on Thursday, as it faces continued pressure to balance growth with profitability.
The Instamart owner reported a consolidated net loss of 9.22 billion rupees ($97.24 million) for the quarter ended September 30, compared to analysts' average estimate of a loss of 7.92 billion rupees, according to data compiled by LSEG.
It posted a loss of 10.92 billion rupees a year earlier.
($1 = 94.8175 Indian rupees)
(Reporting by Aishwarya Jain and Surbhi Misra in Bengaluru; Editing by Harikrishnan Nair)
((Aishwarya.Jain@thomsonreuters.com; Surbhi.Misra@thomsonreuters.com))
Recent news on Swiggy
See all newsIndia's Swiggy to deepen Instamart presence in existing markets as losses widen (updated)
Brief: Swiggy Says Transition To Indian Owned, Controlled Entity Will Give A Net Margin Benefit Of About 80 Bps
India's Swiggy posts bigger-than-expected quarterly loss
Citi sees stronger food-delivery momentum at Swiggy citing Eternal commentary
Preview: India's Eternal quarterly results tied to Blinkit growth as AI risk looms, analysts say